Russia's first NFC wallet for smartphones launched
N 31 May 2013

Russia's first NFC wallet for smartphones launched

iFree, Tinkoff Credit Systems bank and MasterCard have presented a Near Field Communication technology wallet that allows data exchange between smartphones and other gadgets, and also remote issuing and safe download of Mobile MasterCard PayPass.

Holders of the wallet will be able to use as a mobile version of the card issued by Tinkoff, as a transport card in several Russian cities, and a location-based coupon sales service. Generally, the wallet allows downloading all types of cards on one's phone just like applications or games, according to iFree's statement. The services are currently only available to a limited number of users, but the company is preparing them for the mass market.

The wallet chip, allowing owners to simply touch their phone onto MasterCard PayPass terminal, will be installed in HTC One, HTC One SV and Philips W336 phones. Other makes and models are underway, said iFree's VP Oleg Anisimov, but could not specify when.

The wallet will be free, and the company plans to offer bonus money to new users, "so they can try the utility, and then add money to their virtual card" if they like it, said Anisimov.